A question on the edit page of all posts in the dashboard of wordpress

I went into the All Posts section of the dashboard of my wordpress socrates theme blog to edit a post. On the far right I noticed 3 sections-SEO title,SEO keywords and SEO description. Under these titles, I have no keywords,no title and no description. What is this and how important is this. I do have the keywords in some of my title's and a lot of the description. Any further explanation on this or a link to an outside page that can explain further would be great. Wordpress has a big learning curve and not many guru's really explain some of the dashboard stuff. I have watched several video's on wordpress but I'm still learing.

In our dashboard we have basic SEO settings for your homepage. However we recommend that you install a plugin like All In One SEO Pack, Platinum SEO or Yoast SEO.. All In ONE SEO Pack is an easy way to get started.. and there are many tutorials online that will help with it as well.